Tanzanian classifieds platform Kupatana has raised funding from Frontier Digital Ventures to assist the startup’s growth in Uganda, Rwanda and Burundi.
Kupatana is the leading classifieds platform in Tanzania with approximately 750,000 monthly visitors, and has been expanding to neighbouring countries. The new financing will see the startup increase its marketing activities in Tanzania and Uganda.
Frontier Digital Ventures said the funding continued its successful strategy of partnering with the leading online classifieds businesses in frontier markets around the world.
“One of our target frontier regions is East Africa and the team at Kupatana.com has made huge steps in building a great business that is the clear leader in Tanzania, growing rapidly in Uganda and with an expanding presence in the neighbouring countries of Rwanda and Burundi,” said Frontier Digital Ventures chief executive officer (CEO) Shaun Di Gregorio.
Frontier Digital Ventures is on target to make 30 investments in disruptive digital businesses with a mandate focused on five key frontier regions: Central America, Middle East and North Africa, East Africa, West Africa and South Asia.
The company said it will utilise its “extensive resources and expertise” to solidify Kupatana.com’s dominance in the market, whilst providing critical strategic and operational support.